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Statoil to renew focus on Arctic exploration

Mar. 5 - Rising demand for energy around the world is prompting Norway’s biggest oil company to push further into the hostile Barents Sea to extract oil and gas.

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And Arctic summit in London with me Hanson had a stat totals -- unit at anything -- is joining us Ukraine of course and Russia big news. Startled by asking. How much does an event like this encourage. Countries governments to look at frontier areas might be -- Let me say that that demand for energy into -- is growing. If you want to meet this growing demand. We need to be and it also because we need to resources in deck so that's quite important for us as a company. Two of the industry journals. Now you mentioned this region is not -- militants just Telus very quickly what kind of different parts is on its honor. It -- -- -- -- bonuses to split the Arctic in the region as the -- Arctic is not only the Arctic. I'll be like to split it up into three categories. To post columnist -- workable the second willingness to stretch -- the and the extreme. I'm over full course is very much on the book black thick stuff means that currency in the region Barents Sea and East Coast coming up. The posts -- BC's that's most commercial viable this commercial acting. At this time. And it just -- -- -- -- McCain Russia again in many companies in new including -- he isn't seen. Share prices inning and becoming quite volatile stock tocchet has jumped of course. I'm in terms of what's happening man mean. The big picture. What do you think is the future of the energy situation for Europe should Europe -- now she is this a wake up call -- to look at other. Areas for the energy supplies in the future. Almost at TCU remain detained us it has been on the colorful -- is very much. On the growing demand of energy into our. I'll be -- too polite to hurt me and actually. So the have been named -- from our Kentucky issue now -- quite -- -- book -- take pictures and he -- the region parents. -- -- have been drilling a lot about staying. -- state farm there on the I'm going to focus even more. And this seems Hines passed Lou has slowed down and some exploration and that's in the Arctic to. Control capital spending. On the winning needing to speed up these benefits again or on the -- for now. To focus world we have been more hopeless lately in the Arctic also because we have been Scott throw around -- places to -- back -- But it's quite clear that to be aware experiences. On alert new -- close vehicle and couple schools -- more on the workable lactic. Because we have no rush. On the B -- need to take these step by step approach to the articles. Writes it is no big planned increase in and spending time seeing is just a refocusing of USS. It's a refocus and go slow or F four. I'm -- a big success in part of guys they care among they're in defiance he knew we had beat -- -- some holes in east --

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